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☆ Soaring rents have sent evictions spiking 35% in pandemic boom towns
▼ + stars: | 2024-07-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Evictions are rising in housing markets that saw big demand during the pandemic, according to data from the Eviction Lab. That's partly due to high rent prices in the region, which are burdening renters, researchers said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRental housing in pandemic boom towns has become so expensive that many areas are seeing a huge spike in evictions. That's partly due to high rent prices, researchers said, fueled by big shifts in where Americans lived and worked during the pandemic, a trend that drove many renters to the Sun Belt.

Persons: — Organizations: Service, Princeton University, Business

☆ 'Turnaround has begun': Wall Street is bullish on Tesla earnings as it looks toward Robotaxi reveal and full self-driving
▼ + stars: | 2024-07-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Wall Street analysts are bullish on updates about the firm's Robotaxi and FSD technology. Tesla's energy business could also be key to its long-term growth, strategists said. Investors now are eagerly waiting on key updates from the company, with all eyes on Tesla's Robotaxi Day in early October. The firm said it would continue to look out for updates on Tesla's Robotaxi and its more-affordable vehicle, which is expected to be released in the coming years. The firm maintained its three-star rating on Tesla stock and assigned a fair value of $200 per share, implying 20% downside.

Persons: —, eyeing, Elon, Tesla, Musk, hasn't, Tesla's, Garrett Nelson, Nelson, Morgan Stanley, Oppenheimer, TSLA, Morningstar, Seth Goldstein, Goldstein Organizations: Wall Street, Service, EVs, Street, Wedbush Securities, Tesla Energy, Morningstar Locations: China

☆ ‘You are full of s***’: Rep. Nancy Mace rips into Secret Service director
▼ + stars: | 2024-07-22 | by ( Jennifer Smith | ) edition.cnn.com time to read: 1 min

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☆ Stock investors are staring down a bearish trifecta that could spark a 12% market drop by October, strategist says
▼ + stars: | 2024-07-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

He's steering clear of Big Tech stocks, and for now he's only bullish on "dull, boring, and predictable" names. Tech stocks now account for highest portion of the S&P 500 since the early 2000s, according to an analysis from Société Générale. AdvertisementAnother risk to stocks lies in interest rates, Blain said, as borrowing costs look poised to stay higher for longer. "There is an awful lot of people in the financial markets who just don't understand that zero interest rates and ultra-low interest rates are not normal," Blain added. AdvertisementThe final risk Blain is eyeing is the upcoming presidential election, which contains a handful of uncertainties that could batter stocks, Blain said.

Persons: Bill Blain, Blain isn't, —, that's, Blain, Biden, he's, Générale, John Hussman, I've, eyeing, We've, Morgan Stanley, Stifel, Richard Bernstein Organizations: Big Tech, Service, China, Nasdaq, Tech, stoke, Richard Bernstein Advisors

☆ The housing market is close to a rare buying opportunity with prices set to drop in pandemic boom towns, analyst says
▼ + stars: | 2024-07-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewProspective homebuyers may be better off staying on the sidelines: the housing market is on its way to a rare buying opportunity, with steep home price declines bound for key areas of the real-estate market in the coming years, according to one analyst. That's an additional ingredient on the top, which just makes it more likely that prices fall," Gerli told BI. AdvertisementThe situation in the South's housing market also bears some similarities to previous housing bubbles, Gerli noted. In key boom towns, home prices have shot up 50%-70% since the pandemic, though incomes have only risen 10%-20%, he said, citing municipal data. It'll take a long time for housing to become more affordable overall, given how overvalued the market is, Gerli said.

Persons: —, Nick Gerli, Gerli, Freddie Mac, That's, Southern homebuilders, we've, it's, Redfin, Homebuyers, It's Organizations: Service, Business, National Association of Realtors, Builders Locations: Florida, Southern, Texas

☆ The housing market is close to a rare buying opportunity as prices are set to drop in pandemic boom towns, analyst says
▼ + stars: | 2024-07-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

☆ Global IT outage leaves thousands stranded at airports amid chaos at hospitals, government agencies and 911 systems
▼ + stars: | 2024-07-20 | by ( Dalia Faheid | ) edition.cnn.com time to read: +10 min

All flights were grounded for United Airlines, Delta Air Lines, American Airlines and Allegiant Airlines on Friday. Meanwhile, thousands of companies around the world are struggling with payment processing after the outage brought down systems across a wide range of businesses. Airlines, banks, TV channels and other businesses were disrupted worldwide on Friday following a major computer systems outage linked to an update on an antivirus program. In addition to hospitals, blood donation centers have experienced challenges and are altering blood shipment methods due to flight delays. The Social Security Administration closed its local offices to the public on Friday after the outage shut down numerous services.

Persons: ”, “, Kiah Hampton, Hampton, Jennifer Small, ” Small, Ty Kelley, “ I’m, Miya Haney, Dave DeWalt, George Kurtz, ” Kurtz, Etienne Laurent, Kim Brown, ” Brown, Laura Topete, ” Topete, Ted Wheeler, Kathy Hochul Organizations: CNN, Microsoft, United Airlines, Delta Air Lines, American Airlines, Allegiant Airlines, Airlines, Atlanta’s Hartsfield, Jackson International Airport, ” Spirit Airlines, Shipping, UPS, FedEx, Marriott International, Hilton, McAfee, Infrastructure Security Agency, Delta Airlines, Getty, Kaiser Permanente, Health, Hospital Medical, Epic Systems, US Department of Health, Human Services, York Blood Center, Angeles, Superior Court, Department, ”, United States Customs, Border Protection, CBP, Social Security Administration, US Department of Justice Locations: United States, Los Angeles, ” New Jersey, Jersey, Philadelphia, Boston, Alaska, Phoenix, New York City, Texas , Tennessee, North Carolina, Georgia, Airlines, Kaiser, San Jose , California, Portland , Oregon, Southern California, San Diego County, Arizona, Maricopa County, New York

☆ Russian inflation will soar even higher as sanctions spark another surge in gas prices, British intelligence says
▼ + stars: | 2024-07-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Russian inflation will likely rise after the nation hiked its gas prices, British Intelligence said. Russia raised domestic gas prices 11% at the start of July. Inflation in Russia has remained elevated since the Ukraine war, clocking in at 8% in June. AdvertisementRussian inflation will worsen after a sudden spike in gas prices, according to a new report from the UK intelligence. Domestic gas prices in Russia spiked 11% at the start of July, likely to make up for industry losses stemming from Western sanctions, the note said.

Persons: — Organizations: British Intelligence, Service, British Ministry of Defence, Business Locations: Russia, Ukraine

☆ Biden campaign co-chair reacts to Democrat-funded TV ad urging him to drop out of race
▼ + stars: | 2024-07-19 | by ( Jennifer Smith | ) edition.cnn.com time to read: 1 min

A CD earns a fixed interest rate, but you have to leave your money in it for a set amount of time. Ask yourself whether you have separate emergency savings, and if you should be investing instead. Consider a high-yield savings account if you think you may need to access funds soon. CDs are a great way to generate passive income because they require almost no oversight after the initial deposit. Make sure you have savings in an emergency fund in case you need money quickly.

Persons: it's, you'll

Sign up for a credit monitoring service such as Credit Karma to keep tabs on your credit report. If you want the best interest rates on a credit card, mortgage, or personal line of credit, you'll want to ensure your credit report accurately reflects your credit history. You can dispute information on your credit report with any of the three major credit bureaus: Equifax, Experian, and TransUnion. Dispute credit reports with Credit KarmaIn addition to your own vigilance in keeping tabs on your credit report throughout the year, it helps to sign up for credit monitoring services to keep you updated between credit reports. If your credit dispute is rejected, you can provide additional evidence to the credit bureau or contact the creditor directly.

Persons: Karma, you'll, Margaret Poe, Poe, you've, Allen Organizations: Equifax, Consumer Financial, Credit Karma, Experian, Consumer Locations: Atlanta , Georgia, Allen , Texas, Chester , Pennsylvania, unresponsiveness

☆ The stock market is flashing warning signs as tech shares are a 'valuation timebomb,' SocGen says
▼ + stars: | 2024-07-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The SocGen strategist has been warning of a recession and coming stock crash for months. The tech sector is showing a number of signs that valuations are an overstretched "timebomb," he said. AdvertisementThe stock market is flashing warning signs that the tech stock frenzy is about to end, according to one of Wall Street's most bearish analysts. "As time marches on, there are few of us left who were in the industry during the 2000 Nasdaq crash let alone the 1987 crash. Analysts are expecting tech stocks to post forward earnings growth of around 30% year-over-year, Edwards noted, though tech stocks have actually been posting around 20% yearly earnings growth.

Persons: Albert Edwards, —, He's, Edwards, Russell, Morgan Organizations: Service, Societe Generale, Nasdaq, Tech

☆ I didn't think I was a good enough parent. I went to therapy to deal with my shame.
▼ + stars: | 2024-07-18 | by ( Jennifer Sizeland | ) www.businessinsider.com time to read: +4 min

After having my son nearly three years ago, I struggled with an almost debilitating embarrassment about my performance as a mother. His birth unleashed a sense that I somehow wasn't good enough, so I would have to overcompensate to be a good parent. I didn't know what to do, so I made an excuse and took my son somewhere else to play. That's why I went back to therapy two years ago when my son was 1. While many parents may feel shame in certain situations, I'm glad I sought out support, as I can now go anywhere with my son.

Persons: I've, I'd Organizations: Service

Definition and types of credit card fraudCredit card fraud is a type of fraud that involves the unauthorized use of your credit card information. Credit card fraud can majorly impact your credit score and finances. Preventing credit card fraudCredit card fraud is still a problem for one simple reason: It continues to work. Frequently asked questions about credit card fraudWhat are the signs of credit card fraud? If you lose your credit card, report it immediately to your credit card issuer to prevent unauthorized use.

Persons: —, It's, Jeff Bezos, you'll, Wells Fargo, Banks Organizations: Service, Electronic, American Express, Citi

☆ Why a recession will strike in 2025, according to a veteran economist
▼ + stars: | 2024-07-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewThe US hasn't dodged a recession, and the economy is slowing too quickly to nail a soft landing, according to top economist Steve Hanke. AdvertisementM2 money supply has contracted for most of the past two years, and grew by just 0.5% year-over-year in early June, according to Fed data. That compares to early 2021, when the M2 money supply grew at 27% as pandemic stimulus juiced economic activity. The growth rate of the money supply is also well-below the 6% growth rate Hanke estimates is on par with 2% inflation. "The average guy on the street corner knows that if they goose the money supply, you're going to get inflation.

Persons: —, Steve Hanke, Johns Hopkins, Hanke, Julia La Roche, — we've Organizations: Service, Business, Federal Reserve, Fed, US, New York Fed Locations: New

☆ Why the interview process is more annoying than ever
▼ + stars: | 2024-07-18 | by ( Tim Paradis | ) www.businessinsider.com time to read: +8 min

Yet, it's often hard to tell how an interview process might unfold. But now, even the interview process for getting something like a six-month assignment has proven difficult, Kilgore said. "Now, there's an assessment or multiple assessments, a self-conducted video interview where you speak to a robot via webcam, then a phone-screening interview, then some kind of in-person interview, and then an interview where you meet the senior management," the person wrote. Schielke recounted one interview she participated in where there was the candidate and then 15 people on the other side. She added that some job seekers need to reset their expectations after several years in which they were calling the shots.

Persons: —, Octavius Newman, Newman, — Newman isn't, Allen Johnson, Josh Bersin, aren't, Zers, J, Raymond Kilgore, who's, Kilgore, it's, Jennifer Schielke, Schielke, she's Organizations: Service, Business, Employers, Nvidia, Group Solutions Locations: Philadelphia, Chandler , Arizona, Philly

☆ ‘I don’t want to hear that crap’: Biden lashes out at Democrat in heated call
▼ + stars: | 2024-07-17 | by ( Jennifer Smith | ) edition.cnn.com time to read: 1 min

☆ An ultra-safe corner of the commercial real estate debt market is seeing losses as the sector struggles
▼ + stars: | 2024-07-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Commercial real estate pain is sparking defaults in bonds backed by loans on high-quality properties. The recent stress is a sign of deep pain in the sector as values wobble and loans reach maturity. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPain in commercial real estate has spread to an even ultra-safe corner of the commercial mortgage market, with losses being seen for bonds backed by debt on the highest quality properties. Defaults on single-asset, single-borrower bonds — which are commercial mortgage-backed securities tied to a single, high-quality property —have skyrocketed over the past few years, according to Commercial Real Estate Finance Council data cited by the Wall Street Journal.

Persons: — Organizations: Service, Real Estate Finance, Wall Street, Business

☆ Americans want prices to go down, but deflation could spark a wave of unemployment, top economist Paul Krugman says
▼ + stars: | 2024-07-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Falling prices could bring on a spike in unemployment and wage cuts, according to Paul Krugman. The Nobel economist pointed to pressure from consumers to lower high prices. The US appears to be entering a soft landing, he said, where inflation eases without a rise in unemployment. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmericans hate high prices — but there's a reason people should hope the cost of goods and services don't drop back to pre-pandemic levels, according to Nobel laureate Paul Krugman.

Persons: Paul Krugman, — Organizations: Service, The New York Times, Business

☆ The Nazi Jurist Who Haunts Our Broken Politics
▼ + stars: | 2024-07-13 | by ( Jennifer Szalai | ) www.nytimes.com time to read: +1 min

It was a curious line, not just for what it said, but also because of who was saying it. And the goal here is to get back in power.”Vance was referring to the political theorist and Nazi jurist who provided much of the intellectual ballast for the Third Reich. Schmitt despised liberalism. That, at least, is what I think Vance was saying. “I think that challenging elections and questioning the legitimacy of elections is actually part of the democratic process,” Vance said.

Persons: Ross Douthat, Vance, Donald Trump’s, Carl Schmitt — there’s, there’s, ” Vance, Third Reich, Schmitt, thrall, Trump, “, ‘ He’s Organizations: New York, Republican, Third, Capitol Locations: Ohio

☆ Russia's weakened energy trade and lost access to the dollar will spark a severe recession within a year, a top economist says
▼ + stars: | 2024-07-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Read previewVladimir Putin's claims that Russia's economy is doing just fine may soon be hard to back up. That's mainly because Russia is losing two things its economy desperately needs, he told Business Insider — a robust energy trade and a steady flow of US dollars. Moscow's economy is extremely dependent on petrodollars, or dollars obtained through the oil and gas trade, Gorodnichenko said. AdvertisementThat could put Russia's economy on the fast track to a recession in the next 12 months, Gorodnichenko predicted. Withering energy empireThe energy trade is Russia's biggest money maker.

Persons: —, Vladimir Putin's, Yuriy Gorodnichenko, Gorodnichenko, Putin, Gorodnichkeno Organizations: Service, UC Berkeley, Business, Kremlin, Bank for International Settlements, Soviet Union Locations: Russia, Ukraine, Soviet, Soviet Union, China

☆ My boss tried to trick me into staying at a job I hated. I interviewed behind her back and landed my dream role.
▼ + stars: | 2024-07-12 | by ( Jennifer Sizeland | ) www.businessinsider.com time to read: +4 min

However, after a few months, my excitement turned to frustration when I realized my job wasn't going anywhere. When they were around, their conversations were generally irrelevant to my role, and I certainly couldn't afford the expensive bars they frequented. As this was only revealed in the last weeks of my job, it imperiled my plan to leave and feel normal again. I now know that people leave jobs and move around all the time for reasons similar to mine. It should never feel personal to leave a job, nor should anyone have to spend so much time in an environment where they feel unhappy.

Persons: She'd Organizations: Service, HR

☆ Pain is coming for 2 sectors as high rates cut off the 'lifeblood' of easy leverage, billionaire Oaktree founder Howard Marks says
▼ + stars: | 2024-07-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Tighter lending could weigh heavily on private equity and real estate, according to Howard Marks. Experts have cautioned on commercial real estate in particular as looming debt maturities pose a risk. That's created "fundamental questions" in specific parts of the real estate market, like office and retail properties, he added. The wider commercial real estate sector has over $1 trillion in debt set to mature in 2024, per Goldman Sachs. Billionaire investor Barry Sternlicht recently said he foresaw weekly bank closures and extreme losses in commercial real estate as high interest rates impact the sector.

Persons: Howard Marks, Marks, —, Banks, That's, Goldman Sachs, Barry Sternlicht Organizations: Service, Oaktree Capital Management, Bloomberg, Federal Reserve, Federal Deposit Insurance Corporation, Billionaire

☆ Stock market today: Indexes poised for another record as traders digest Fed commentary
▼ + stars: | 2024-07-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks climbed higher on Wednesday and were poised to notch another fresh record. Traders were feeling upbeat after Fed Chair Powell delivered slightly dovish guidance on rate cuts before Congress on Tuesday. Investors are pricing in around two rate cuts by the end of the year, though bets on three rate cuts by December rose slightly, according to the CME FedWatch tool. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Wednesday:AdvertisementHere's what else happened today:In commodities, bonds, and crypto:Advertisement

Persons: —, Powell, Hogan, Riley Wealth Organizations: Fed, Service, Traders Locations: Here's

☆ Stock market today: S&P 500 closes at a fresh record above 5,600 as traders brace for June inflation
▼ + stars: | 2024-07-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks climbed Wednesday, with the S&P 500 closing at a record high. Traders are waiting on the June inflation report, which will be a key input for Fed policy. Investors are anticipating two rate cuts from the central bank by year-end, per the CME FedWatch tool. AdvertisementUS stocks rose on Wednesday as traders waited for upcoming inflation data and took in Powell's testimony before Congress. Still, the outlook for Fed rate cuts was little changed.

Persons: —, Powell Organizations: Traders, Service, Dow Jones, Nasdaq

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